Chitika is having a contest to see who is making the best use of their Chitika Premium ad blocks in tandem with Adsense.

Since one of the best ways to earn the most revenue is by using AdSense and Chitika | Premium together on the same page, we thought we would hold a contest to see who has the best AdSense + Chitika | Premium setup.

All you’ve got to do is get them the URL of the site where you’ve got both Chitika Premium and Adsense set up. You can submit it in the comments of the announcement post or via email (listed on that post). Best placement combo wins.

The grand prize winner gets their choice of a Google/T-Mobile Android G1, Blackberry Storm, or an Apple iPhone 3G 8GB. Also, two runners up will get a cash prize of $200. That’s nearly enough to buy your own phone.

I must admit that I had abandoned the Chitika program for quite some time due to lack of performance, but I was convinced to give it another try and it’s paid great dividends since. What used to be a $3-4 a month payout, is now coming in at $50-$70!